Commercial Auto questions

[Dumptrkr]

Someone told me that it was illegal for insurance companies to back date an increase in premium? I couldn't find the law where it states that they can't. I was wondering if someone knew?

@Markthebroker
thank you btw for your response earlier.

 

[Markthebroker]

Someone told me that it was illegal for insurance companies to back date an increase in premium? I couldn't find the law where it states that they can't. I was wondering if someone knew?

@Markthebroker
thank you btw for your response earlier.

It isn't. I see it all the time. Literally every day. I'm not exaggerating. Every day.

On a conceptual level, it's the same way you pay your water, electricity and taxes.

 

[Dumptrkr]

Just thought I would share the good news! I found coverage elsewhere for over $6k cheaper!! Thank you to those who took the time to respond.

 

[NY independent]

If you think the carrier is violating the law, you should report it to your state's insurance commissioner.